Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

November 9, 2023

Consolidated Financial Results
for the Six Months Ended September 30, 2023
(Under Japanese GAAP)
Company name:

Furukawa Co., Ltd.

Listing:
Securities code:
URL:
Representative:

Tokyo Stock Exchange5715
https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director

Inquiries:
Telephone:

Tsuyoshi Tajika, General Manager, Accounting Department+81-3-6636-9502

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results briefing:

November 13, 2023
–
Yes
Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to
September 30, 2023)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net sales
Six months ended

Millions of yen

September 30, 2023
September 30, 2022

% Millions of yen

94,793
104,576

Note: Comprehensive income

(9.4)
6.9

September 30, 2023
September 30, 2022

4,599
3,372

Profit attributable toowners of parent

Ordinary profit% Millions of yen

36.4
(3.2)

6,074
5,219

% Millions of yen
16.4
27.6

12,911
3,448

For the six months ended September 30, 2023:¥ 18,699 million[274.6%]

For the six months ended September 30, 2022:¥[157.9%]Basic earnings
per share
Six months ended

Operating profit

Diluted earnings
per share

Yen

Yen

341.5289.37––

4,992 million

%
274.4
49.2

(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Millions of yen

Millions of yen%

249,979
232,745

121,196
106,05047.2
44.2

September 30, 2023
March 31, 2023
Reference: Equity
As of September 30, 2023:¥ 117,929 million¥ 102,946 million

As of March 31, 2023:

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen
Yen
Fiscal year ended–
0.00
March 31, 2023
Fiscal year ending–
0.00
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)
Note: Revisions to the forecast of cash dividends most recently announced: None

Fiscal year-end

Total

Yen

Yen

Yen

–

50.00

50.00

–

50.00

50.00

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (from April 1, 2023
to March 31, 2024)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2024

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

190,000(11.3)

9,700

7.4

10,50012.3

16,500165.6

443.67

Note: Revisions to the forecast of financial results most recently announced: Yes

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

40,445,568 shares

As of March 31, 2023

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2023

3,255,387 shares

As of March 31, 2023

2,329,563 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal
year)
Six months ended September 30, 2023

37,807,375 shares

Six months ended September 30, 2022

38,587,836 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of earnings forecasts, and other special matters(1) Caution concerning forward-looking statements
The forward-looking statements, including earnings outlook, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable by theCompany. The Company makes no warranty as to the achievability of the projections. Actual business andother results may differ substantially from the statements herein due to a number of factors.
Please refer to “1. Performance Overview, (3) Outlook” on page 6 of the attached material for the suppositions
that form the assumptions for earnings forecasts and cautions concerning the use thereof.
(2) Financial results briefing (for securities analysts and institutional investors)
The Company will hold a financial results briefing through livestreaming. Furthermore, the Company plans topost supplementary materials and a video of the results briefing on its website.

Furukawa Co., Ltd. (5715)

Attached Material
Index
1. Performance Overview ............................................................................................................................. 2(1) Operating results................................................................................................................................. 2(2) Financial position ............................................................................................................................... 5(3) Outlook ............................................................................................................................................... 6
2. Quarterly Consolidated Financial Statements and Significant Notes Thereto .......................................... 7(1) Quarterly consolidated balance sheet ................................................................................................. 7(2) Quarterly consolidated statement of income and consolidated statement of comprehensive
income ................................................................................................................................................ 9
Quarterly consolidated statement of income (cumulative) ................................................................. 9
Quarterly consolidated statement of comprehensive income (cumulative) ...................................... 10(3) Quarterly consolidated statement of cash flows ............................................................................... 11(4) Notes to quarterly consolidated financial statements ....................................................................... 12
Notes on going concern assumptions ............................................................................................... 12
Notes on significant changes in the amount of shareholders’ equity ................................................ 12
Segment information ........................................................................................................................ 12
Supplementary Material on Financial Results for the Six Months Ended September 30, 2023.................... 14-1-

Furukawa Co., Ltd. (5715)

1. Performance Overview
Matters concerning forward-looking statements in the text are according to the judgment as of the endof the second quarter of the fiscal year ending March 31, 2024.
(1) Operating results(Millions of yen)Six months ended
September 30, 2022
Net sales

Six months ended
September 30, 2023

Year-on-year change

104,576

94,793(9,783)Operating profit

3,372

4,599

1,227

Ordinary profit

5,219

6,074

855

Profit attributable to owners of parent

3,448

12,911

9,463

In the first two quarters under review (April 1–September 30, 2023), the Japanese economy
experienced a moderate recovery due to various government policies amid improving employment
and income conditions. In the non-manufacturing sector, corporate profits continued to increase
owing to a recovery in service and inbound demand. However, a slowdown in overseas economies
put downward pressure on earnings in the manufacturing sector amid continued global monetary
tightening and other factors.
In this economic environment, the Furukawa Company Group posted consolidated net sales of¥94,793 million, a decrease of ¥9,783 million from the previous corresponding period, andoperating profit of ¥4,599 million, an increase of ¥1,227 million. In the Machinery business, theIndustrial Machinery segment reported year-on-year declines in sales and operating profit, the Rock
Drill Machinery segment increases in sales and operating profit, and the UNIC Machinery segment
higher sales and lower operating profit. Overall, the Machinery business reported increases in bothsales and operating profit. In the Materials business, the Metals segment posted lower sales andhigher operating profit, the Electronics segment lower sales and operating profit, and the Chemicals
segment higher sales and operating profit. As a result, the Materials business as a whole posted
lower sales and higher operating profit. The Real Estate business reported declines in both sales
and operating profit. Within non-operating income, we posted foreign exchange gains of ¥1,080
million. As a result, ordinary profit amounted to ¥6,074 million, an increase of ¥855 million year
on year. Among extraordinary income we posted a ¥13,423 million gain on sale of non-current
assets, mainly from the transfer of a portion of the former Furukawa Osaka Building site and otherland as a co-ownership interest. Accordingly, profit attributable to owners of parent was ¥12,911
million, an increase of ¥9,463 million.
The net sales and operating profit for the reportable segments are as follows:
Industrial Machinery(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

7,862

6,054

(1,807)

13

(283)

(296)

The Industrial Machinery segment posted sales of ¥6,054 million, a decrease of ¥1,807 million year
on year, and an operating loss of ¥283 million, compared with operating profit of ¥13 million in theprevious corresponding period. The order backlog at the end of the period (September 30, 2023)
was higher than the end of the previous fiscal year (March 31, 2023), due mainly to orders received
for the Hachioji South Bypass Ofuna-Terada Viaduct and other projects related to bridges. As forrevenue, sales of material machinery decreased due to lower sales of main units, while sales ofpump products and equipment also declined. In the infrastructure business, we reported sales
corresponding to progress of bridge-related projects, including the Shimizu IC No. 3 Viaduct Steel
Upper Structure and the Tokai Kanjo Daian Viaduct, but overall sales declined due to a decrease in-2-

Furukawa Co., Ltd. (5715)

construction work on large-scale projects. On the earnings side, we reported a loss on sales ofmaterial machinery due to delays in plant construction, which incurred additional costs.
Rock Drill Machinery(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Year-on-year change

Sales

18,003

19,961

1,957

Operating profit

1,057

2,146

1,089

Sales in the Rock Drill Machinery segment totaled ¥19,961 million, an increase of ¥1,957 million
year on year, and operating profit was ¥2,146 million, an increase of ¥1,089 million. In Japan, sales
increased due to a rise in shipments of main bodies of hydraulic crawler drills and an increase inorders for maintenance services. Overseas, we reported higher sales due to increased shipments ofhydraulic breakers to North America and hydraulic crawler drills to Africa, as well as the positiveeffect of the yen’s depreciation.
UNIC Machinery(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

14,067

14,286

219

811

717

(93)

Sales in the UNIC Machinery segment totaled ¥14,286 million, an increase of ¥219 million year on
year, and operating profit was ¥717 million, a decrease of ¥93 million. In Japan, we reported anincrease in sales due to various factors. These included a recovery from truck production delays
due to difficulties in procuring electronic components and overseas parts, which had been occurringin recent years, resulting in higher shipments of UNIC cranes. Overseas, we reported a decrease insales due to lower shipments of UNIC cranes to China, Southeast Asia, and Europe, although
shipments to North America remained relatively strong.
Machinery Business Total(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Year-on-year change

Sales

39,93340,302369

Operating profit

1,882

2,581

698

Total sales of the Machinery business—consisting of the Industrial Machinery, Rock Drill
Machinery, and UNIC Machinery segments—amounted to ¥40,302 million, an increase of ¥369
million year on year, and operating profit was ¥2,581 million, an increase of ¥698 million.
Metals(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

53,90343,359(10,543)

492

1,254

761

Sales in the Metals segment amounted to ¥43,359 million, a decrease of ¥10,543 million year on
year, and operating profit was ¥1,254 million, an increase of ¥761 million. The overseas market-3-

Furukawa Co., Ltd. (5715)

price of electrolytic copper started the period at US$8,966/ton and rose to the US$9,000/ton levelin mid-April but declined to US$8,210/ton on June 30 due to speculation about additional interest
rate hikes in the United States and signs of weak Chinese demand. Subsequently, the price rose andfell repeatedly, mainly due to expectations for economic stimulus measures in China anduncertainties about demand, and ended the period at US$8,230.50/ton. Due to the termination of
our entrusted copper smelting agreement with Onahama Smelting and Refining Co., Ltd. on March
31, 2023, electrolytic copper production, sales volume and revenue declined, and income/expensebalance in the entrusted copper smelting business improved. Thanks to this improvement as well as
price differentials due to fluctuations in metal prices and the yen’s depreciation, we reported anincrease in segment operating profit.
Electronics(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

3,600

3,540

(59)

321

274

(46)

Sales in the Electronics segment amounted to ¥3,540 million, a decrease of ¥59 million year on
year, and operating profit was ¥274 million, a decrease of ¥46 million. The market for high-purity
metallic arsenic for compound semiconductors, a major application for this material, remained in
an inventory adjustment phase both in Japan and overseas. The demand for aluminum nitride
ceramics for use in substrates and filler materials was strong, while demand for their application insemiconductor manufacturing equipment components was weak. Thus, overall sales of bothmaterials declined. Sales of coils increased due to the recovery in automobile production as thesemiconductor shortage moved toward resolution.
Chemicals(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

4,461

4,603

142

361

383

22

Sales in the Chemicals segment amounted to ¥4,603 million, an increase of ¥142 million year-onyear, while operating profit was ¥383 million, an increase of ¥22 million. Sales of cupric oxide
decreased due to a decline in demand related to cloud server substrates, PCs, and smartphones,
despite higher unit selling prices stemming from rising copper prices and price revisions.
Meanwhile, sales of cuprous oxide increased on the back of a recovery in demand for ship-bottom
paints, a major application for that product, as well as higher unit selling prices owing to risingcopper prices and price revisions.
Materials Business Total(Millions of yen)Six months ended
September 30, 2022

Six months ended
September 30, 2023

Year-on-year change

Sales

61,96451,503(10,461)

Operating profit

1,175

1,912

737

Total sales of the Materials business—consisting of the Metals, Electronics, and Chemicals
segments—amounted to ¥51,503 million, a decrease of ¥10,461 million year on year, and operating
profit was ¥1,912 million, an increase of ¥737 million.

-4-

Furukawa Co., Ltd. (5715)

Real Estate(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

1,067

903

(164)

424

226

(198)

Sales in the Real Estate business amounted to ¥903 million, a decrease of ¥164 million year on
year, and operating profit was ¥226 million, a decrease of ¥198 million. As for the Muromachi
Furukawa Mitsui Building (commercial name: COREDO Muromachi 2), our main facility, lease
income, which varies according to sales of the commercial facility, recovered to the pre-COVID-19
level. However, overall lease revenues from offices, where market conditions are worsening,
declined due to a reduction in floor space for office tenants and lower unit lease prices.
Others(Millions of yen)Six months ended
September 30, 2022
Sales
Operating profit

Six months ended
September 30, 2023

Year-on-year change

1,610

2,083

473

(59)

(86)

(26)

This segment covers metal powder, casting, transportation, and other businesses. In the period
under review, the segment recorded sales of ¥2,083 million, an increase of ¥473 million year on
year, and an operating loss of ¥86 million, an increase of ¥26 million from the previous
corresponding period.
(2) Financial position(i) Assets, liabilities, and net assets(Millions of yen)
End of previous fiscal
year

End of the second
quarter of the fiscal
year ending March
31, 2024

Change from end of
previous fiscal year

Total assets

232,745249,979

17,233Liabilities

126,695

128,7822,087(Interest-bearing debt)

62,84862,397(451)

106,050

121,196

15,146

44.2

47.2

3.0

Net assets
Equity-to-asset ratio(%)

At the end of the second-quarter period (September 30, 2023), total assets amounted to ¥249,979
million, an increase of ¥17,233 million from March 31, 2023. This was mainly due to a decrease innotes and accounts receivable–trade and contract assets and increases in cash and deposits, andmerchandise and finished goods, as well as an increase in investment securities due to higher shareprices of listed stocks. Interest-bearing debt (borrowings) totaled ¥62,397 million, a decrease of¥451 million. Net assets amounted to ¥121,196 million, an increase of ¥15,146 million.

-5-

Furukawa Co., Ltd. (5715)(ii) Cash flows(Millions of yen)Six months ended
September 30, 2022
Cash flows from operating activities(7,191)

Six months ended
September 30, 2023
8,443

Year-on-year change
15,634

Cash flows from investing activities

(597)

1,946

2,544

Cash flows from financing activities

11,706(4,312)(16,018)

Cash and cash equivalents

19,181

20,364

1,182

Regarding the cash flow provided by operating activities in the first two quarters under review
amounted a net inflow of ¥8,443 million. This was mainly due to ¥7,426 million adjusted revenueof non-cash expenses (calculated by adjusting profit before income taxes for non-cash expenses),¥2,294 million in proceeds from changes in assets and liabilities related to operating activities, and¥1,819 million in income taxes paid. Net cash provided by investing activities totaled ¥1,946
million, mainly reflecting proceeds from sale of property, plant and equipment. Net cash used infinancing activities was ¥4,312 million, mainly reflecting purchase of treasury shares and dividends
paid. As a result, cash and cash equivalents at the end of the period amounted to ¥20,364 million,
an increase of ¥6,757 million from March 31, 2023.
(3) Outlook
Compared with our previous full-year forecast announced on May 29, 2023, we expect theIndustrial Machinery segment to post lower sales and operating profit mainly in light of its
performance in the period under review. We also expect the UNIC Machinery segment to report
declines in sales and operating profit due to lower-than-anticipated shipments of UNIC cranes
stemming from delayed truck deliveries and higher costs of parts, materials, and others. On theother hand, we look forward to increases in sales and operating profit (compared with the previous
forecast) for both the Rock Drill Machinery segment, which has a large overseas sales ratio andbenefits from the yen’s depreciation, and the Metals segment, which benefits from metal pricefluctuations and price gains due to the yen’s depreciation. As a result, we have made upwardrevisions to consolidated net sales and operating profit for the fiscal year ending March 31, 2024.
We have also revised upward our forecasts for ordinary profit and profit attributable to owners ofparent, reflecting our expectation of gains among non-operating items, including foreign exchange.

-6-

Furukawa Co., Ltd. (5715)

2. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-7-

As of September 30, 2023

13,606

20,36435,502

29,031

18,705
12,213
15,5844,318(47)
99,882

21,877
13,604
12,7253,439(46)100,997

23,43553,91013,636
90,981317

23,40551,71014,93990,054352

34,711
7,622(769)
41,563
132,862
232,745

40,964
18,442(832)
58,574
148,982249,979

Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provisions
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-8-

As of September 30, 2023

14,397
9,244
16,607
1,711
202
20,947
63,111

13,625
11,977
14,8972,512
292
16,59559,90046,24097
2,481
228
14,53463,583
126,695

47,49942,266
231
18,87968,881
128,782

28,2082
58,847(3,086)
83,971

28,2082
69,860(4,707)93,364

12,32016,625

(77)
2,582
1,564
2,584
18,974
3,103
106,050
232,745

(63)
2,575
2,944
2,483
24,565
3,267
121,196249,979

Furukawa Co., Ltd. (5715)(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)Six months ended
September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Administrative expenses of inactive mountain
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Other
Total extraordinary income
Extraordinary losses
Demolition expenses of a rental building
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-9-

Six months ended
September 30, 2023

104,576
91,343
13,232
9,860
3,372

94,79380,184
14,60810,008
4,599

501
2,142
331
2,975

580
1,080
682
2,343

248
401
479
1,128
5,219

245
400
223
869
6,074

5
362
368

13,42367
13,490

470
348
368
1,187
4,399
1,380
(565)
814
3,584
136
3,448

458
200
42
701
18,863
3,300
2,515
5,816
13,046134
12,911

Furukawa Co., Ltd. (5715)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)Six months ended
September 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests- 10 -

Six months ended
September 30, 2023

3,584

13,046

(876)
5
1,863
(89)

4,309
(5)
1,161
(100)

504

288

1,407
4,992

5,653
18,6994,760

18,509231

190

Furukawa Co., Ltd. (5715)(3) Quarterly consolidated statement of cash flows(Millions of yen)Six months ended
September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Loss (gain) on sale and retirement of property, plant andequipment
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Proceeds from a partial refund of consideration for
acquisition from the seller by adjusting theconsideration of shares of subsidiaries
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 11 -

Six months ended
September 30, 2023

4,399
2,047

18,863
2,161

206(13,397)

(156)
(605)
248
(354)
(985)
(2,573)(3,070)(4,651)(5,493)589(235)(2,129)78(7,191)

(317)
(778)
245
(436)
6,795
(975)
1,372
(3,812)
9,721
784
(243)
(2,632)813
8,443(1,289)15(3,695)
5,461

420

–

256
(597)

180
1,946

26,341(10,331)
3,100(4,446)(888)(1,938)(130)
11,706

7,748(8,247)6,500(6,653)(1,621)(1,902)(136)(4,312)

794

680

4,712
14,46819,181

6,757
13,606
20,364

Furukawa Co., Ltd. (5715)(4) Notes to quarterly consolidated financial statements
Notes on going concern assumptions
Not applicable.
Notes on significant changes in the amount of shareholders’ equity
Not applicable.
Segment information[Segment information]
1. Six months ended September 30, 2022
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

7,862

18,00314,067

1,396

2

9,258
13

MetalsElectronics

Chemicals

53,903

3,600

4,461

83

126

–

27

18,005

14,15054,029

3,600

4,488

1,057

811

492

321

361

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

1,067

102,965

1,610

104,576–

104,576

6

1,643

804

2,447

(2,447)–

1,074

104,608

2,414

107,023(2,447)

104,576

424

3,482

(59)

3,422

(50)

3,372

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes themetal powder business, transportation business, and other businesses.
2. Segment profit (loss) adjustment of ¥(50) million includes eliminations of intersegment transactions of ¥5 million
and company-wide expenses not allocated to each reportable segment of ¥(56) million. Company-wide expenses
are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do not belong to thereportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

- 12 -

Furukawa Co., Ltd. (5715)

2. Six months ended September 30, 2023
(1) Information relating to the amounts of net sales and profit or loss by reportable segment(Millions of yen)
Reportable segment

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Industrial
Machinery

Rock Drill
Machinery

UNIC
Machinery

6,054

19,961

14,286

1,478

2

7,533
(283)

MetalsElectronics

Chemicals

43,359

3,540

4,603

184

113

–

28

19,964

14,471

43,472

3,540

4,631

2,146

717

1,254

274

383

Eliminations/
corporate(Note 2)

Amountrecorded in thequarterly
consolidated
statement ofincome(Note 3)

Reportable segment

Real Estate

Net sales
Net sales to externalcustomers
Intersegment net sales ortransfers
Total
Segment profit (loss)

Others(Note 1)

Total

Total

903

92,7092,083

94,793–

94,793

4

1,812

924

2,737

(2,737)–908

94,522

3,008

97,530(2,737)

94,793

226

4,720

(86)

4,634

(34)

4,599

Notes: 1. The “Others” category refers to business segments not included in the reportable segments, and includes themetal powder business, casting business, transportation business, and other businesses.
2. Segment profit (loss) adjustment of ¥(34) million includes eliminations of intersegment transactions of ¥22
million and company-wide expenses not allocated to each reportable segment of ¥(56) million. Company-wide
expenses are mainly expenses related to deserted metal mine assets and deserted coal mine assets that do notbelong to the reportable segments.
3. Segment profit (loss) is adjusted to operating profit in the quarterly consolidated statement of income.

- 13 -

Furukawa Co., Ltd. (5715)

Supplementary Material on Financial Results
for the Six Months Ended September 30, 2023
November 9, 2023
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)

Machinery businessSix months
ended
September
30,2022Six months
ended
September
30,2023

Fiscal year ending March 31, 2024
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange39,93340,302369

87,00085,6003,941

Industrial Machinery segment
Rock Drill Machinery segment

7,862
18,003

6,054
19,961(1,807)
1,957

18,50036,00017,90038,700(43)
2,947

UNIC Machinery segment

14,067

14,286219

32,50029,000

1,038

Materials business

61,96451,503(10,461)

91,60098,300(28,504)

Metals segment

53,90343,359(10,543)

74,80081,900(29,524)

Electronics segment
Chemicals segment

3,600
4,461

3,540
4,603

(59)
142

7,700
9,100

7,300
9,100

373
645

Real Estate segment

1,067

903

(164)

1,700

1,900

(156)

Others segment

1,610

2,083

473

4,200

4,200

528

104,576

94,793(9,783)

184,500

190,000(24,190)

Six months
ended
September
30,2022Six months
ended
September
30,2023

Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange

1,882

2,581

698

7,400

6,600

506

Total

Operating profit

Machinery business

Fiscal year ending March 31, 2024

Industrial Machinery segment

13

(283)

(296)

1,500

1,000

(515)

Rock Drill Machinery segment
UNIC Machinery segment

1,057
811

2,146
717

1,089
(93)

3,100
2,800

4,100
1,500

1,069
(47)

1,175

1,912

737

1,600

2,800

490

Metals segment
Electronics segment

492
321

1,254
274

761
(46)

500
400

1,700
400

423
(100)

Chemicals segment

361

383

22

700

700

167

Real Estate segment

424

226

(198)

400

500

(335)

Materials business

Others segment

(59)

(86)

(26)

(150)

(100)

33

(Subtotal)

3,422

4,634

1,211

9,250

9,800

695

Eliminations/corporate

(50)

(34)

16

(50)

(100)

(26)

3,372

4,599

1,227

9,200

9,700

668

Six months
ended
September
30,2022Six months
ended
September
30,2023

Total

Exchange rate/Copper priceFiscal year ending March 31, 2024
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchangeExchange rate

Yen/$

134.0

141.0

7.0

135.6

143.0

7.5

Copper price

$/mt

8,634

8,417

(217)

8,120

8,209

(342)

- 14 -

Furukawa Co., Ltd. (5715)* Reference Information (the below values are reference values)
1. Industrial Machinery segment order balance
The Industrial Machinery segment mainly provides built-to-order manufacturing, and the order balance as ofthe end of the second quarter is as follows.
As of
September 30,2022
Order backlog¥12.7 billion

As ofYear-on-year change
September 30,2023¥16.0 billion¥3.2 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Six months ended
September 30,2022

Six months ended
Year-on-year change
September 30,2023

Operating profit¥0.49 billion¥1.25 billion¥0.76 billion

Of which was due to pricefluctuations¥0.52 billion¥0.87 billion¥0.34 billion[¥(0.12) billion][¥0.62 billion][¥0.12 billion][¥0.68 billion][¥0.24 billion][¥0.06 billion]

CopperGold- 15 -